Oil and Gas World

Malaysia-Vietnam Commercial Arrangement Area At A Glance

On 24 January 2022, Hibiscus Petroleum completed the acquisition and transfer of operatorship in the PM3 CAA PSC as part of the same acquisition which include the three Malaysian PSCs and one Vietnamese PSC. The PM3 CAA PSC has allowed Hibiscus Petroleum to diversify their production into gas.



PM3 CAA PSC

Asset Name: PM3 CAA PSC

Licence: PM3 Commercial Arrangement Area Production Sharing Contract

Hibiscus Petroleum’s Interest: 35%

Operator: Repsol Oil & Gas Malaysia Limited*

Non-operating Partners: Petronas Carigali Sdn Bhd, PetroVietnam Exploration Production Corporation Ltd.

Asset Location: Commercial Arrangement Area between Malaysia and Vietnam

Water Depth: 56m

Field Life Cycle: Production

Producing Fields:
Bunga Orkid, Bunga Pakma, Bunga Raya, Bunga Seroja, Bunga Kekwa, Bunga Tulip

Development Type:
Fixed platforms with gas pipelines to Peninsular Malaysia and Vietnam, oil export via FSO Orkid and FSO PM3 CAA

Acquisition Date:
25 January 2022

Office Locations:
Kuala Lumpur, Kota Bharu, Kemaman

T7 Global Secured a 6-Month Contract Extension from Hibiscus Oil & Gas Malaysia Limited

T7 Global Berhad is thrilled to announce that its subsidiary, Tanjung Offshore Services Sdn. Bhd., has received a contract extension award by Hibiscus Oil & Gas Malaysia Limited for the Provision of Maintenance, Construction and Modification Services for PM3-CAA Year 2025.